Mall Public Company Limited (the “Company”) would like to submit management’s discussion and analysis for its result of operations from the consolidated financial statements for the three-month and six

1 บริษัท เอ็นซีแอล อินเตอรเ์นช่ันแนล โลจิสติกส ์จ ำกัด (มหำชน) NCL INTERNATIONAL LOGISTICS PUBLIC COMPANY LIMITED ที่ NCL-M 15/62 วนัที่ 13 สงิหาคม 2562 เรื่อง ค าอธิบายและวิเคราะห์ของฝ่ายจัดการของ

a 4-storey office building with total area of 4,446.72 sqm from Noble Development Public Company Limited (Noble) at total investment of THB 800,000,000. MANAGEMENT DISCUSSION & ANALYSIS 2Q 2019 14

Malee Group Public Company Limited and Its Subsidiaries Management Discussion and Analysis For the Q2/2019 and H1/2019 ended 30 June 2019 1. Q2/2019 Highlights Figure 1: Quarterly results  In Q2

Group Public Company Limited (the “Company” or “CBG”), are pleased to submit management discussion and analysis regarding consolidated financial performance and position of the Company and subsidiaries

sale of 75% of VGI Global Media (Malaysia) Sdn. Bhd. (“VGM”) for THB 360mn to Master Ad Public Company Limited (“MACO”). This transaction is expected to be completed within 3Q 2018/19. The restructuring

Public Company Limited (20 percent). Management Discussion and Analysis For the Three-month and Six-month Periods Ended 30 June, 201" Page 2 1.3 Secur ities Sale Deed to increase investment propor tion in

Company acquired 50% of the total ordinary shares in 4 subsidiaries of Sansiri Public Company Limited (Sansiri) at a total price of THB 75.5mn. As a result, (i) Siripat One Company Limited, (ii) Siripat Two

Thailand We, Carabao Group Public Company Limited (the “Company” or “CBG”), are pleased to submit management discussions and analysis regarding consolidated financial performance and position of the Company

Malee Group Public Company Limited and Its Subsidiaries Management Discussion and Analysis For the Third Quarter and Nine-Month Period Ended 30 September 2018 1. Q3/2018 Highlights Figure 1